STP reporting of Termination payment

Jenny
Jenny Member Posts: 5

Hello, I have an employee finishing who is owed some leave. I have processed and done the STP reporting for our normal fortnightly pay run this week which includes their normal wage payment. When do I do the STP report for the leave payout for the employee who has finished? I have processed the leave payout separately to the normal wage payments so there is an extra payment to report on STP. If I pay their leave owing today can I report it next fortnight when I do the next pay run or do I have to report it to STP today?

Comments

  • Acctd4
    Acctd4 Accredited Partner Posts: 2,152 Reckon Accounts Hosted Expert Reckon Accounts Hosted Expert

    Technically it should be reported when paid as an "STP Event" has occurred.  However, realistically you can include it in the next STP Pay Run. 

    NOTE: Make sure you "Terminate" the employee in the software.  This updates the employee record to reflect the "Release Date" which carries through in the STP submission.

    Shaz Hughes Dip(Fin) ACQ NSW, MICB

    *** Reckon Accredited Partner (AP) Bookkeeper - specialising EXCLUSIVELY in Reckon Accounts / Hosted ! ***

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  • Jenny
    Jenny Member Posts: 5

    Thanks very much for your input Shaz